Gold is at minimum for more than 5 years

Gold is at a minimum for more than 5 years

It goes down on Monday. By 10.58 MSK troy
Ounce for August delivery costs 1
115.10 dollars, a price level
last seen in March 2010
of the year. During the Asian session, futures on yellow
metal collapses to 1 $ 094.18
– to the level of February 2010.

confronted with a massive wave
Sales in Asia. Analysts say
It looks like someone took advantage of conditions
low liquidity. is
speculative selling. on Shanghai
Gold Exchange on Monday have been sold
nearly 900,000 lots on key contracts
(Compared with less than 27 000 lots in
Friday). Until today, the volume of
the average trading in July was less than 30 000
lots. As you can see, the volume of sales increased in
30 times.

I see the reason for the collapse in China
on Friday opened to its gold data
stocks: it turned out that Celestial not
buys metal in the same scale as
analysts thought. It means that
Gold demand is not as great as
It seemed the market.

A plus
everything disappear points of tension,
forcing investors to go into
safe assets today opened
Greek banks, and the stock collapse in
China seems to have ended. nowhere
gone main factor of pressure on
Gold: expectations of Fed rate.
Janet Yellen last week clearly
made it clear that the US regulator
I intend to raise rates before the end of
year, and in such circumstances, investors
eager to buy non-interest assets
– such as gold.

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